Selected transactions from the journal of Metlock Inc. during its first month of operations are presented here: Date Account Titles Debit Credit
Aug. 1 Common Stock 9,000
Cash 9,000
Aug. 10 Cash 1,400
Service Revenue 1,400
Aug. 12 Equipment 5,600
Cash 1,540
Notes Payable 4,060
Aug. 25 Accounts Receivable 2,570
Service Revenue 2,570
Aug. 31 Cash 750
Accounts Receivable 750
Required:
Post the transactions to T-accounts.
(Post in same order as question)

Metlock, Inc.

T-accounts:

Common Stock

Date     Account Titles       Debit   Credit

Aug. 1   Common Stock   9,000

Cash

Date     Account Titles          Debit   Credit

Aug. 1   Common Stock                    9,000

Aug. 10 Service Revenue     1,400

Aug. 12 Equipment                           1,540

Aug. 31 Accounts receivable 750

Service Revenue

Date     Account Titles       Debit   Credit

Aug. 10 Cash                                  1,400

Aug. 25 Accounts receivable      2,570

Equipment

Date     Account Titles       Debit   Credit

Aug. 12  Cash                     1,540

            Notes Payable    4,060

Accounts Receivable

Date       Account Titles       Debit   Credit

Aug. 25   Service Revenue  2,570

Aug. 31    Cash                                   750

Explanation:

Common stock of $9,000 was posted on the debit side as it appeared first.  This follows the normal order of recording transactions in the journal.  The accounts to be debited are recorded first before the accounts to be credited.  However, this entry appears abnormal.  Cash of $9,000 should have appeared first in the journal before the Common Stock.  Whichever is the correct interpretation, all the journal entries have been posted to the T-accounts accordingly.